ASML reports ”record net bookings” in Q2
The Dutch semiconductor equipment manufacturer second-quarter net sales came in at €5.4 billion with a gross margin of 49.1%.
Demand from our customers remains very strong, as reflected by record net bookings in the second quarter of €8.5 billion, including €5.4 billion from 0.33 NA and 0.55 NA EUV systems as well as strong DUV bookings, said ASML President and Chief Executive Officer Peter Wennink, in a company interim report.
According to Wennink, some customers are indicating signs of slowing demand in certain consumer-driven market segments. However, the company is witnessing a ”strong demand” for its systems, driven by global megatrends in automotive, high-performance computing, and green energy transition.
While we are still planning to ship a record number of systems this year, increasing supply chain constraints cause delayed starts. Therefore, we are increasing the planned number of fast shipments throughout the remainder of this year in order to supply our customers with the necessary capacity expansions, Wennink continues.
ASML expects Q3 2022 net sales between €5.1 billion and €5.4 billion and a gross margin between 49% and 50%. Expected sales growth for the full year of around 10%
This growth is lower than previously guided as a result of an increase in the number of fast shipments expected in the remainder of 2022, the revenue for which will be delayed into 2023 at an amount of around €2.8 billion. With the combination of this delayed revenue recognition, the extra costs related to the planned increase in output capacity and certain inflationary trends, we expect the full year 2022 gross margin to be between 49% and 50%, said Wennink.
